Page 96 - Profile's Stock Exchange Handbook - 2025 Issue 4

JSE - BRI Profile’s Stock Exchange Handbook: 2025 - Issue 4
British American Tobacco plc Burstone Group Ltd.

ISIN: GB0002875804 SHORT: BATS CODE: BTI ISIN: ZAE000180915 SHORT: BURSTONE CODE: BTN
REG NO: 03407696 FOUNDED: 1902 LISTED: 2008 REG NO: 2008/011366/06 FOUNDED: 2008 LISTED: 2011
NATURE OF BUSINESS: British American Tobacco (BAT) is one of the NATURE OF BUSINESS: Burstone (previously Investec Property
world’s leading consumer goods companies, with nicotine and Fund) is a fully integrated international real estate business with
tobacco brands sold around the globe. We employ over 55 000 c.R40 billion gross asset value (GAV) under management and
people, partner with over 90 000 farmers and have factories in 48 c.R6.1 billion third-party capital under management. The Group
countries, with offices in even more. invests in best-in-class assets focusing on fund management; asset
SECTOR: CnsStp--FoodBev&Tob--Tobacco-- Tobacco management and development management. Burstone listed
NUMBER OF EMPLOYEES: 89 182 on the JSE 2011 and currently operates in South Africa, select
DIRECTORS: Anand K (ne), Guerra K (ind ne, British), Kemmerich-Keil U European markets and Australia. About 55% of the Group’s asset
(ind ne), Koeppel H (ind ne, USA), Laury V (ne), Thomas D (ind ne, USA), base is comprised of foreign investments. The Group has a strong
Timuray S (ind ne), Jobin L (Chair, ind ne, Canada), Marroco T management track record of more than 30 years operating in both
(CEO, Brazil), Iqbal J (Interim CFO) local and international markets.
MAJOR ORDINARY SHAREHOLDERS as at 17 Oct 2025 SECTOR: RealEstate--RealEstate--REITS--Diversified
The Capital Group Companies, Inc 19.01% NUMBER OF EMPLOYEES: 42
BlackRock, Inc. 4.98% DIRECTORS: Hourquebie P (ind ne), Moephuli D (ind ne), Morathi R K
Standard Bank Group Ltd. 3.35% (ind ne), Nkonyeni V (ind ne), Riley N (ne), Theodosiou P A (ind ne, UK),
POSTAL ADDRESS: PO Box 631, Cape Town, 8000 Tomlinson R G (ind ne), Ngoasheng M M (Chair, ind ne), Wooler A R
MORE INFO: www.sharedata.co.za/sdo/jse/BTI (CEO), Kritzinger M (Group CFO)
COMPANY SECRETARY: Paul McCrory MAJOR ORDINARY SHAREHOLDERS as at 3 Dec 2024
TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd. Investec Ltd. 19.30%
SPONSOR: JP Morgan Equities South Africa Ltd.,UBS South Africa Government Employees Pension Fund 16.60%
(Pty) Ltd. POSTAL ADDRESS: PO Box 78949, Sandton, 2196
AUDITORS: KPMG LLP MORE INFO: www.sharedata.co.za/sdo/jse/BTN
CAPITAL STRUCTURE Authorised Issued COMPANY SECRETARY: Sashnee Maistry
BTI Ords GBP0.25p ea 2 858 265 349 2 328 801 808 TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
SPONSOR: Investec Bank Ltd.
DISTRIBUTIONS [GBPp] AUDITORS: PwC Inc.
Ords GBP0.25p ea Ldt Pay Amt CAPITAL STRUCTURE Authorised Issued
Quarterly No 51 23 Dec 25 4 Feb 26 60.06 BTN Ords no par val 1 000 000 000 804 918 444
Quarterly No 50 30 Sep 25 7 Nov 25 60.06
LIQUIDITY: Oct25 Avg 5m shares p.w., R3 969.3m(11.0% p.a.) DISTRIBUTIONS [ZARc]
Ords no par value Ldt Pay Amt
BATS 40 Week MA JSE-TABA Final No 30 17 Jun 25 23 Jun 25 47.65
110000
Interim No 29 10 Dec 24 17 Dec 24 44.58
100000 LIQUIDITY: Oct25 Avg 6m shares p.w., R52.2m(38.4% p.a.)
90000
BURSTONE 40 Week MA REIV
1500
80000
1400
70000 1300
1200
60000
1100
50000 1000
2021 2022 2023 2024 2025
900
800
FINANCIAL STATISTICS
Jun 25 Dec 24 Dec 23 Dec 22 Dec 21 700
(GBP million) 600
Interim Final Final Final Final 2021 2022 2023 2024 2025
Turnover 12 069 25 867 27 283 27 655 25 684 NOTE: Investec Property Fund Ltd. renamed to Burstone Group Ltd.
Op Inc 5 069 2 736 - 15 751 10 523 10 234 on 20 September 2023.
NetIntPd(Rcvd) 969 1 098 1 895 1 641 1 486
Minority Int 53 113 178 180 173 FINANCIAL STATISTICS
Att Inc 4 512 3 068 - 14 367 6 666 6 801 (R million) Mar 25 Mar 24 Mar 23 Mar 22 Mar 21
TotCompIncLoss 304 3 124 - 17 563 15 553 7 796 Final Final Final Final(rst) Final
Fixed Ass 4 159 4 379 4 583 4 867 4 953 NetRent/InvInc 1 230 1 343 1 036 1 120 1 054
Inv & Loans 737 146 118 121 50 Total Inc 1 600 1 753 1 365 1 554 1 553
Tot Curr Ass 13 866 14 283 14 172 14 642 12 794 Attrib Inc - 2 224 232 195 1 038 - 328
- 331
1 038
232
195
Ord SH Int 45 189 47 958 50 881 73 683 65 416 TotCompIncLoss - 2 230 12 439 13 014 13 652 13 398
9 483
Ord UntHs Int
Minority Int 303 352 368 342 300
LT Liab 47 053 50 161 50 109 59 983 54 820 FixedAss/Prop 13 154 13 750 13 503 13 515 14 637
734
644
1 964
681
1 467
Tot Curr Liab 15 996 18 743 15 673 17 425 15 144 Tot Curr Ass 18 572 25 848 25 384 24 039 25 148
Total Ass
PER SHARE STATISTICS (cents per share) Tot Curr Liab 2 474 3 277 2 330 2 479 3 397
HEPS-C (ZARc) 4 020.41 2 406.55 8 414.84 6 707.83 6 438.51 PER SHARE STATISTICS (cents per share)
DPS (ZARc) 2 884.25 5 426.92 5 126.93 4 364.38 4 381.40 HEPS-C (ZARc) - 138.93 28.21 43.70 177.85 128.13
NAV PS (ZARc) 50 152.72 51 228.74 53 209.27 65 016.33 61 754.74
3 Yr Beta 0.22 0.08 0.09 0.30 0.40 DPS (ZARc) 92.23 89.46 99.41 102.23 92.23
Price High 89 422 69 999 71 400 74 444 59 248 NAV PS (ZARc) 1 178.00 1 551.00 1 617.00 1 696.08 1 665.00
Price Low 65 406 53 284 52 180 58 500 51 051 3 Yr Beta 0.45 0.37 0.67 1.47 1.39
Price Prd End 84 080 67 657 54 151 67 410 58 591 Price Prd End 826 753 825 1 200 970
RATIOS Price High 1 026 910 1 300 1 280 1 204
Ret on SH Fnd 19.35 6.36 - 26.81 9.04 10.35 Price Low 655 681 766 929 635
Oper Pft Mgn 42.00 10.58 - 57.73 38.05 39.85 RATIOS
D:E 1.07 1.09 1.03 0.85 0.87 RetOnSH Funds - 23.45 1.87 1.50 7.61 - 2.44
Current Ratio 0.87 0.76 0.90 0.84 0.84 RetOnTotAss 8.82 6.99 5.35 6.43 6.10
Div Cover 1.69 0.59 - 2.90 1.36 1.38 Debt:Equity 0.88 1.00 0.90 0.72 0.81
OperRetOnInv 9.35 9.76 7.67 8.29 7.20
OpInc:Turnover 61.21 65.43 57.05 62.87 71.83
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